Common use of Removal of Mortgage Loans from Inclusion Under this Agreement Clause in Contracts

Removal of Mortgage Loans from Inclusion Under this Agreement. The Purchaser and the Company agree that with respect to some or all of the Mortgage Loans, the Purchaser, at its sole option, may effect Whole Loan Transfers, Agency Transfers or Securitization Transactions, retaining the Company as the servicer thereof or subservicer if a master servicer is employed, or as applicable the "seller/servicer." In the event that any Mortgage Loan transferred pursuant to this Section 9.01 is rejected by the transferee, the Company shall continue to service such rejected Mortgage Loan on behalf of the Purchaser in accordance with the terms and provisions of this Agreement. The Company shall cooperate with the Purchaser in connection with each Whole Loan Transfer, Agency Transfer or Securitization Transaction in accordance with this Section 9.01; provided that no such Whole Loan Transfer, Agency Transfer or Securitization Transaction shall create a greater obligation or cost on the part of the Company than otherwise set forth in this Agreement. In connection therewith:

Appears in 7 contracts

Samples: Assumption and Recognition Agreement (Banc of America Funding 2006-H Trust), Assumption and Recognition Agreement (Banc of America Funding 2006-G Trust), Assumption and Recognition Agreement (Banc of America Funding 2007-4 Trust)

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Removal of Mortgage Loans from Inclusion Under this Agreement. The Purchaser and the Company agree that with respect to some or all of the Mortgage Loans, the Purchaser, at its sole option, may effect Whole Loan Transfers, Agency Transfers Sales or Securitization Transactions, retaining the Company as the servicer thereof or subservicer if a master servicer is employed, or as applicable the "seller/servicer." In the event that any Mortgage Loan transferred pursuant to this Section 9.01 is rejected by the transferee, the Company shall continue to service such rejected Mortgage Loan on behalf of the Purchaser in accordance with the terms and provisions of this Agreement. The Company shall cooperate with the Purchaser in connection with each Whole Loan Transfer, Agency Transfer Sale or Securitization Transaction in accordance with this Section 9.01; 9.01 and provided that no such Whole Loan Transfer, Agency Transfer Sale or Securitization Transaction shall create a greater obligation or cost on the part of the Company than otherwise set forth in this Agreement. In connection therewith:

Appears in 6 contracts

Samples: Warranties and Servicing Agreement (STARM Mortgage Loan Trust 2007-3), Warranties and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Ab1), Warranties and Servicing Agreement (MASTR Asset Securitization Trust 2006-2)

Removal of Mortgage Loans from Inclusion Under this Agreement. The Purchaser and the Company agree that with respect to some or all of the Mortgage Loans, the Purchaser, at its sole option, may effect Whole Loan Transfers, Agency Transfers or Securitization Transactions, retaining the Company as the servicer thereof or subservicer if a master servicer is employed, or as applicable the "seller/servicer." In the event that any Mortgage Loan transferred pursuant to this Section 9.01 is rejected by the transferee, the Company shall continue to service such rejected Mortgage Loan on behalf of the Purchaser in accordance with the terms and provisions of this Agreement. The Company shall cooperate with the Purchaser in connection with each Whole Loan Transfer, Agency Transfer or Securitization Transaction in accordance with this Section 9.01; provided that no such Whole Loan Transfer, Agency Transfer or Securitization Transaction shall create a greater obligation or cost on the part of the Company than otherwise set forth in this Agreement. In connection therewith:

Appears in 6 contracts

Samples: And Servicing Agreement (GSR Mortgage Loan Trust 2007-2f), Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2007-1f), Assignment, Assumption and Recognition Agreement (Thornburg Mortgage Securities Trust 2006-1)

Removal of Mortgage Loans from Inclusion Under this Agreement. The Purchaser and the Company agree that with respect to some or all of the Mortgage Loans, the Purchaser, at its sole option, may effect Whole Loan Transfers, Agency Transfers Sales or Securitization Transactions, retaining the Company as the servicer thereof or as subservicer if a master servicer is employed, or as applicable the "seller/servicer." In the event that any Mortgage Loan transferred pursuant to this Section 9.01 is rejected by the transferee, the Company shall continue to service such rejected Mortgage Loan on behalf of the Purchaser in accordance with the terms and provisions of this Agreement. The Company shall cooperate with the Purchaser in connection with each Whole Loan Transfer, Agency Transfer Sales or Securitization Transaction in accordance with this Section 9.01; , provided that no such Whole Loan Transfer, Agency Transfer Sale or Securitization Transaction shall create a greater obligation or cost on the part of the Company than otherwise set forth in this Agreement. In connection therewith:

Appears in 5 contracts

Samples: Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-10xs), Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar), Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-7ax)

Removal of Mortgage Loans from Inclusion Under this Agreement. The Purchaser and the Company agree that with respect to some or all of the Mortgage Loans, the Purchaser, at its sole option, may effect Whole Loan Transfers, Agency Transfers Sales or Securitization Transactions, retaining the Company as the servicer thereof or as subservicer if a master servicer is employed, or as applicable the "seller/servicer." In the event that any Mortgage Loan transferred pursuant to this Section 9.01 is rejected by the transferee, the Company shall continue to service such rejected Mortgage Loan on behalf of the Purchaser in accordance with the terms and provisions of this Agreement. The Company shall cooperate with the Purchaser in connection with each Whole Loan Transfer, Agency Transfer Sales or Securitization Transaction in accordance with this Section 9.01; , provided that no such Whole Loan Transfer, Agency Transfer Sale or Securitization Transaction shall create a greater obligation or cost on the part of the Company than otherwise set forth in this Agreement. In connection therewith:

Appears in 2 contracts

Samples: And Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-6xs), Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-1xs)

Removal of Mortgage Loans from Inclusion Under this Agreement. The Purchaser Owner and the Company Servicer agree that with respect to some or all of the Mortgage Loans, the PurchaserOwner, at its sole option, may effect Whole Loan Transfers, Agency Transfers Sales or Securitization Transactions, retaining the Company Servicer as the servicer thereof or subservicer if a master servicer is employed, or as applicable the "seller/servicer." In the event that any Mortgage Loan transferred pursuant to this Section 9.01 is rejected by the transferee, the Company Servicer shall continue to service such rejected Mortgage Loan on behalf of the Purchaser Owner in accordance with the terms and provisions of this Agreement. The Company Servicer shall cooperate with the Purchaser Owner in connection with each Whole Loan Transfer, Agency Transfer Sale or Securitization Transaction in accordance with this Section 9.01; provided that no such Whole Loan Transfer, Agency Transfer Sale or Securitization Transaction shall create a greater obligation or cost on the part of the Company Servicer than otherwise set forth in this Agreement. In connection therewith:

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Thornburg Mortgage Securities Trust 2006-5)

Removal of Mortgage Loans from Inclusion Under this Agreement. The Purchaser and the Company agree that with respect to some or all of the Mortgage Loans, the Purchaser, at its sole option, may effect Whole Loan Transfers, Agency Transfers Sales or Securitization Transactions, retaining the Company as the servicer thereof or subservicer if a master servicer is employed, or as applicable the "seller/servicer." In the event that any Mortgage Loan transferred pursuant to this Section 9.01 is rejected by the transferee, the Company shall continue to service such rejected Mortgage Loan on behalf of the Purchaser in accordance with the terms and provisions of this Agreement. The Company shall cooperate with the Purchaser in connection with each Whole Loan Transfer, Agency Transfer Sale or Securitization Transaction in accordance with this Section 9.01; 9.01 and provided that no such Whole Loan Transfer, Agency Transfer Sale or Securitization Transaction shall create a greater obligation or cost on the part of the Company than otherwise set forth in this Agreement. In connection therewiththerewith the Company shall:

Appears in 1 contract

Samples: Warranties and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2006-2)

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Removal of Mortgage Loans from Inclusion Under this Agreement. The Purchaser Purchasers and the Company Servicer agree that with respect to some or all of the Mortgage Loans, the Purchaser, at its sole option, may effect one or more Whole Loan Transfers, Agency Transfers or Securitization TransactionsTransactions (but in no event may the Purchaser effect more than three Reconstitutions of the Mortgage Loans in any Mortgage Loan Package), retaining the Company Servicer as the servicer thereof or subservicer if a master servicer is employed. On the Reconstitution Date, or as applicable the "seller/servicer." In Mortgage Loans transferred shall cease to be serviced by the Servicer pursuant to this Agreement; provided, however, that, in the event that any Mortgage Loan transferred pursuant to this Section 9.01 is rejected by the transfereetransferee or otherwise no longer subject to such Reconstitution, the Company Servicer shall continue to service such rejected Mortgage Loan on behalf of the Purchaser in accordance with the terms and provisions of this Agreement. The Company Servicer shall cooperate with the Purchaser in connection with each Whole Loan Transfer, Agency Transfer or Securitization Transaction in accordance with this Section 9.01; provided that no such Whole Loan Transfer, Agency Transfer or Securitization Transaction shall create a greater obligation or cost on the part of the Company than otherwise set forth in this Agreement. In connection therewiththerewith the Servicer shall:

Appears in 1 contract

Samples: Flow Servicing Agreement (Luminent Mortgage Trust 2006-7)

Removal of Mortgage Loans from Inclusion Under this Agreement. The Purchaser and the Company agree that with respect to some or all of the Mortgage Loans, the Purchaser, at its sole option, may effect Whole Loan Transfers, Agency Transfers Sales or Securitization Transactions, retaining the Company as the servicer thereof or subservicer if a master servicer is employed, or as applicable the "seller/servicer." In the event that any Mortgage Loan transferred pursuant to this Section 9.01 is rejected by the transferee, the Company shall continue to service such rejected Mortgage Loan on behalf of the Purchaser in accordance with the terms and provisions of this Agreement. The Company shall cooperate with the Purchaser in connection with each Whole Loan Transfer, Agency Transfer Sale or Securitization Transaction in accordance with this Section 9.01; provided that no such Whole Loan Transfer, Agency Transfer Sale or Securitization Transaction shall create a greater obligation or cost on the part of the Company than otherwise set forth in this Agreement. In connection therewith:

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Thornburg Mortgage Securities Trust 2006-5)

Removal of Mortgage Loans from Inclusion Under this Agreement. The Purchaser and the Company agree that with respect to some or all of the Mortgage Loans, the Purchaser, at its sole option, may shall effect up to four Whole Loan Transfers, Agency Transfers Sales or Securitization TransactionsPass-Through Transfers, retaining the Company as the servicer Servicer thereof or subservicer if a master servicer is employed, or as applicable the "seller/servicer." In On the Reconstitution Date, the Mortgage Loans transferred shall cease to be covered by this Agreement; provided, however, that, in the event that any Mortgage Loan transferred pursuant to this Section 9.01 9 is rejected by the transferee, the Company shall continue to service such rejected Mortgage Loan on behalf of the Purchaser in accordance with the terms and provisions of this Agreement. The Company shall cooperate with the Purchaser in connection with each Whole Loan Transfer, Agency Sale or Pass-Through Transfer or Securitization Transaction in accordance with this Section 9.01; provided that no such Whole Loan Transfer, Agency Transfer or Securitization Transaction shall create a greater obligation or cost on the part of the Company than otherwise set forth in this Agreement9. In connection therewiththerewith the Company shall:

Appears in 1 contract

Samples: Warranties and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2003-Sd1)

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